Share prices fell Tuesday on profit-taking. The peso closed lower.
The Philippine Stock Exchange index (PSEi) was down 4.86 points to 6,848.43, a 0.07 percent drop.
The broader All Shares index was down 4.41 points or 0.12 percent to 3,566.48.
Losers edged gainers 114 to 84 with 48 stocks unchanged. Trading turnover reached P5.79 billion.
The peso closed at 55.92 to the dollar, down from 55.58 on Monday.
The currency opened at 55.68 and hita high of 55.67 and a low of 55.95. Trading turnover amounted to $1.31 billion.
Most Asian currencies eased against the US dollar on Tuesday, while equities fell, as the focus shifts towards other global central bank meetings after the Bank of Japan ended eight years of negative interest rates, Reuters reported.
Mikhail Philippe Plopenio, analyst at Philstocks Financial Inc., said the market dropped due to last-minute profit-taking.
“Investors seem to be cautious ahead of the Federal Reserve’s policy meeting given that the US’ producer price index data last Friday was higher-than-expected. This resulted in a sideways movement of the market for Tuesday’s session,” he said.
Most actively traded International Container Terminal Services Inc. was down P0.20 to P307. Universal Robina Corp. was down P5 to P99.70. Bloomberry Resorts Corp. was down P1 to P10.50. BDO Unibank Inc. was up P0.50 to P153.50. Jollibee Foods Corp. was up P8 to P268. Metropolitan Bank and Trust Co. was down P2.20 to P64.30. Bank of the Philippine Islands was up P2.20 to P122.70. SM Investments Corp. was steady at P980. SM Prime Holdings Inc. was up P0.85 to P32.35. Ayala Land Inc. was up P0.45 to P33.
